Hey Hesh,from a business pov it won’t change anything...

Hey Hesh,
from a business pov it won’t change anything fundamentally as our core business is growing organically- there’s absolutely no doubt the market it waiting to see if this will be approved or not, along with the current sentiment with Fintech.

We will have less cash burn as Novatti are paying wages for the bank that isn’t generating any revenue or profit, the expenses are going out and not coming in. You only have to jump on LinkedIn to see the caliber of team at IBOA to get an understanding on what this is costing Novatti- it’s essential we have them to be approved however it’s a hit to the bottom line continuously until approved.

The banking business will add a new dimension to an already solid business, this particular license is extremely hard to ascertain hence the strenuous process & high value sentiment attached to these.

Moving the banking business aside, I can foresee Novatti being the EML payments of APAC but much better- Novatti have integrated Steller, XRP and running business through blockchain tech. There’s absolutely no doubt in my mind Novatti will be the next $1B MC payments provider on the ASX based off their current core offering.

Having the acquirer licenses and now platform going live in June is a game changer for Novatti- I know I write this often but I’ll write it again, these acquiring licenses have only been issued 21 times in Australia, they’re literally the diamond jewel in the payments space - the margins and revenue produced from these licenses are incredible, it literally 2-3x the profit and revenue by having them- all we have to do is watch, wait and let the team drive Novatti to the next level.

I hope this helps.